Zacks Investment Research Upgrades MacroGenics, Inc. (NASDAQ:MGNX) to Hold

MacroGenics, Inc. (NASDAQ:MGNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, July 18th. The brokerage presently has a $19.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 17.00% from the company’s current price.

According to Zacks, “MacroGenics Inc. is a biopharmaceutical company. It is focused on discovering and developing innovative monoclonal antibody-based therapeutics. The Company has a diverse portfolio of product candidates focused in three therapeutic areas: oncology, autoimmune disorders and infectious diseases. MacroGenics Inc. is headquartered in Rockville, Maryland. “

A number of other brokerages have also recently issued reports on MGNX. Raymond James Financial, Inc. initiated coverage on shares of MacroGenics in a research note on Friday, March 31st. They issued an “outperform” rating and a $26.00 price objective on the stock. Morgan Stanley decreased their target price on shares of MacroGenics from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, May 8th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.30.

MacroGenics (MGNX) opened at 16.24 on Tuesday. The stock has a 50 day moving average price of $17.36 and a 200-day moving average price of $18.72. MacroGenics has a 12-month low of $14.36 and a 12-month high of $33.30. The stock’s market capitalization is $597.60 million.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by $0.09. The firm had revenue of $1.70 million during the quarter, compared to the consensus estimate of $15.82 million. MacroGenics had a negative net margin of 1,216.51% and a negative return on equity of 56.81%. The business’s revenue was down 97.9% compared to the same quarter last year. During the same period last year, the business earned $1.12 earnings per share. Equities research analysts expect that MacroGenics will post ($4.36) EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This story was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://www.com-unik.info/2017/08/12/macrogenics-inc-nasdaqmgnx-stock-rating-upgraded-by-zacks-investment-research-updated-updated-updated.html.

In other news, SVP Jon Marc Wigginton sold 5,000 shares of MacroGenics stock in a transaction on Monday, June 5th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the transaction, the senior vice president now owns 35,000 shares in the company, valued at $700,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.30% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Airain ltd purchased a new position in MacroGenics during the first quarter valued at about $470,000. Wells Fargo & Company MN raised its position in MacroGenics by 100.8% in the first quarter. Wells Fargo & Company MN now owns 48,200 shares of the biopharmaceutical company’s stock valued at $896,000 after buying an additional 24,198 shares during the last quarter. American International Group Inc. raised its position in MacroGenics by 7.1% in the first quarter. American International Group Inc. now owns 19,632 shares of the biopharmaceutical company’s stock valued at $365,000 after buying an additional 1,300 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in MacroGenics during the first quarter valued at about $4,514,000. Finally, Swiss National Bank raised its position in MacroGenics by 5.5% in the first quarter. Swiss National Bank now owns 46,000 shares of the biopharmaceutical company’s stock valued at $856,000 after buying an additional 2,400 shares during the last quarter. Institutional investors own 82.34% of the company’s stock.

About MacroGenics

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.

Get a free copy of the Zacks research report on MacroGenics (MGNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

What are top analysts saying about MacroGenics Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for MacroGenics Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit